M (Macy's) Dividend Payout Ratio: 1.48 (As of Apr. 2026) — 363% Above Median


M Macy's Inc M
69 GF Score
Price $25.70
GF Value $16.03
Valuation Significantly Overvalued
! 8 Warning Signs
View Full Analysis

What is Macy's Dividend Payout Ratio?

Macy's M +1.42% 69 Dividend Payout Ratio is 1.48 as of Apr. 2026, which is 363% above its 10-year median of 0.32. GuruFocus rates M with a GF Score™ of 69/100 and a GF Value™ of $16.03 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 513 Retail - Cyclical companies, Macy's ranks better than 65.3% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Macy's's Dividend Payout Ratio for the months ended in Apr. 2026 was 1.48.

The historical rank and industry rank for Macy's's Dividend Payout Ratio or its related term are showing as below:

M' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.06   Med: 0.32   Max: 0.55
Current: 0.32

During the past 13 years, the highest Dividend Payout Ratio of Macy's was 0.55. The lowest was 0.06. And the median was 0.32.

M's Dividend Payout Ratio is ranked better than
65.3% of 513 companies
in the Retail - Cyclical industry
Industry Median: 0.41 vs M: 0.32

As of today (2026-06-26), the Dividend Yield % of Macy's is 2.91%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Macy's was 31.43%. The lowest was 0.43%. And the median was 4.39%.

Macy's's Dividends per Share for the months ended in Apr. 2026 was $0.19.

During the past 12 months, Macy's's average Dividends Per Share Growth Rate was 4.80% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 5.00% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 18.20% per year. During the past 10 years, the average Dividends Per Share Growth Rate was -10.40% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Macy's was 68.10% per year. The lowest was -41.60% per year. And the median was 9.70% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Macy's (NYSE:M) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Macy's Dividend Payout Ratio Related Terms

Macy's Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Macy's's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Macy's Dividend Payout Ratio Chart

Macy's Annual Data
Trend Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.06 0.14 0.20 0.26 0.32

Macy's Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
Dividend Payout Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.14 0.44 2.02 0.11 1.48

M vs PLBL, DDS, KSS: Dividend Payout Ratio Comparison

For the Department Stores subindustry, Macy's's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Macy's Dividend Payout Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Macy's's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Macy's's Dividend Payout Ratio falls into.


M
69GF Score
Macy's Inc M
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Macy's Dividend Payout Ratio Calculation

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.

Macy's's Dividend Payout Ratio for the fiscal year that ended in Jan. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Jan. 2026 )/ EPS without NRI (A: Jan. 2026 )
=0.73/ 2.32
=0.31

Macy's's Dividend Payout Ratio for the quarter that ended in Apr. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Apr. 2026 )/ EPS without NRI (Q: Apr. 2026 )
=0.192/ 0.13
=1.48

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Dividend Payout Ratio →
What does a Dividend Payout Ratio of 1.48 mean?
Macy's (M) has a Dividend Payout Ratio of 1.48 as of Apr. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Macy's and its competitors. This is 363% above median its historical median of 0.32. Over the past decade, Macy's' Dividend Payout Ratio has ranged from 0.06 to 0.55. According to the industry distribution chart, Macy's ranks #178 out of 513 companies in the Retail - Cyclical industry, placing it in the top 34.7%.
Is Macy's' Dividend Payout Ratio too high?
Macy's' current Dividend Payout Ratio of 1.48 is 363% above median its 10-year median of 0.32. Over the past 10 years, this metric has ranged from a low of 0.06 to a high of 0.55. The Retail - Cyclical industry median Dividend Payout Ratio is 0.41. Macy's' value of 1.48 is 261% above this industry median. Based on the distribution chart, Macy's ranks #178 out of 513 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Macy's has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Macy's' Dividend Payout Ratio compare to PLBL and DDS?
According to the Retail - Cyclical industry distribution chart, Macy's ranks #178 out of 513 companies for Dividend Payout Ratio. This puts Macy's in the upper half of its industry. The industry median Dividend Payout Ratio is 0.41. Macy's' value of 1.48 is 261% above this benchmark. Historically, Macy's' own Dividend Payout Ratio has ranged from 0.06 to 0.55 over the past decade. While the company's 10-year median is 0.32 vs. the industry median of 0.41, Macy's has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Dividend Payout Ratio for a Retail - Cyclical company?
The median Dividend Payout Ratio among Retail - Cyclical companies is 0.41, based on 513 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Macy's's current Dividend Payout Ratio of 1.48 is 261% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Dividend Payout Ratio mean?
A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Macy's and its competitors. For the Retail - Cyclical industry, the median Dividend Payout Ratio is 0.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Macy's's current Dividend Payout Ratio is 1.48, which is 363% above median its own 10-year median of 0.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Macy's stock overvalued right now?
Based on GuruFocus' analysis, Macy's (M) is currently considered Significantly Overvalued. The stock's GF Value™ is $16.03, compared to a current price of $25.70 — trading 60.3% above its estimated fair value. The current Dividend Payout Ratio is 1.48, which is 363% above median its 10-year median of 0.32 and 261% above the Retail - Cyclical industry median of 0.41. Macy's' overall GF Score™ is 69/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Dividend Payout Ratio calculated?
Dividend Payout Ratio is calculated from a company's financial statements. For Macy's (M), the current Dividend Payout Ratio is 1.48 as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Macy's (M) Overvalued in 2026?

Based on GuruFocus' analysis, Macy's stock appears to be overvalued. The current stock price of $25.70 is trading 60.3% above its estimated GF Value™ of $16.03. GuruFocus considers Macy's to be Significantly Overvalued.

Key valuation signals for M:

  • Dividend Payout Ratio: 1.48 (363% above median its 10-year median of 0.32)
  • GF Value™: $16.03 vs. price of $25.70 (60.3% above fair value)
  • GF Score™: 69/100 with 8 warning signs
  • Industry Position: 261% above the Retail - Cyclical median (#178 of 513)

No single metric tells the full story. See the M stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Macy's Business Description

Address 151 West 34th Street, New York, NY, USA, 10001
Founded in 1858 and based in New York City, Macy's operates about 430 eponymous stores, 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's names, and 170 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances constituted 64% of 2025 net retail sales.
69GF Score

Get the complete analysis for M

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$25.70
Price
$16.03
GF Value